Best Buy Co. swung to a loss in its fiscal fourth quarter amid $2.6 billion in restructuring costs and other charges, although the electronics seller managed to turn in a core profit ahead of expectations and preserve margins in the face of a heavily competitive retail environment. The world’s largest electronics chain said it intends to close 50 big-box stores in the just-started year and open 100 mobile small-format, stand-alone stores, part of a plan to cut costs by $800 million by fiscal 2015. WSJ

Gucci America Inc., the maker of luxury clothing and accessories, told a federal judge that Guess? Inc.’s products infringe Gucci’s trademarked designs. Gucci, a unit of Paris-based PPR, sued in 2009 claiming that Los Angeles-based Guess was selling items in stores and online with logos that are “studied imitations of the Gucci trademarks.” The trademarks include a green and red stripe design, a square G, the designer’s name in flowing script and a diamond pattern with repeating interlocking G’s, according to Gucci’s court filings. Bloomberg

Chinese businesspeople hoping to cash in on American firms’ interest in their booming market are registering names such as Kardashian, J.Crew, Justin Bieber and Angry Birds. It’s legal, and China’s laws favor the first filer. Los Angeles Times

Protests calling for further investigation into the shooting of 17-year-old Trayvon Martin a month ago have used a familiar garment as their rallying point: the hoodie. Hoodies trace their roots back to monk robes in Medieval Europe, according to fashion historians, and were introduced in the U.S. in the 1930s by Hanesbrands Inc.’s Champion brand for cold-weather work. The garment has become a modern staple of casual apparel, with most major brands putting their own spin on the hoodie, much as they have with denim or graphic T-shirts. Bloomberg

Swedish fashion retailer Hennes & Mauritz AB on Thursday reported first-quarter profit growth as it continued to lure customers with low prices, but its gross margin was hit by high cotton costs and increased markdowns because of the warm autumn weather. WSJ

Other chains churn out fast fashion; Zara, which is based in Spain and is owned by the distribution group Inditex, attempts the mind-spinningly supersonic. As expected, echoes from the spring 2012 runways are everywhere here. NYT

Geo-coupon system and shopping app Shopkick is adding a well-known retail and branding exec to its board today—Andy Mooney, the former Chairman of Disney Consumer Products and CMO of Nike. He joins Greylock’s Reid Hoffman and Kleiner’s Matt Murphy on the company’s board of directors. TechCrunch

Luggage maker Samsonite International S.A. expects China to overtake the U.S. as its biggest single market in as little as two years, as the growth of China’s middle class fuels leisure and business travel. WSJ

After former president Scott Thompson departed for the CEO role at Yahoo, PayPal has named David Marcus, the former CEO and founder of mobile payments startup Zong and PayPal Mobile VP, as President (PayPal acquired Zong last year for $240 million). TechCrunch

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